It’s been a few months since I took a look at my own stompin’ ground, Noe Valley, and how prices have been doing compared to the city as a whole. We dispensed with the notion that Noe Valley was somehow “immune” some time ago. Sadly — at least for home-owners — and happily for buyers, Noe hasn’t bounced back over the last few months, even though city-wide median prices have improved.
Bear in mind that “Noe Valley” means a very small area. What’s more, there were only 7 sales in August, down from 14 in May and June, and 22 in July. Sure, there’s been a bit of an improvement over the previous month, but there’s still an 11% difference between how far prices have fallen for the city as a whole (19%) versus Noe Valley (30%). ...
